ETH 2.0 reaches the minimum launch threshold, ETH hits a high of $620 today

Ethereum 2.0 Launchpad‌

According to previous news from Ethereum's official website, ETH2.0 needs to meet the following requirements to launch the genesis block: before December 1, at least 16,384 verification nodes must complete staking, and each node must stake 32 ETH, for a total of 524,288 ETH.

ETH2.0 is an upgrade of the current Ethereum, which aims to solve the problems of Ethereum's scalability and cost. The arrival of the ETH2.0 staking threshold does not mean the full launch of ETH 2.0. ETH2.0 is not a one-time implementation, but a phased implementation. It is a huge system project. According to Ethereum's technical roadmap, ETH2.0 has three main phases (Phase 0, Phase 1 and Phase 2). Today is the launch of Phase 0.

The staking speed of the Ethereum 2.0 deposit contract has been progressing slowly. As of November 17, the staking time was more than halfway through, but the staking progress was only about 20%. However, starting from November 21, the staking speed began to accelerate significantly.

At around 19:00 on November 21, the balance of the Ethereum 2.0 deposit contract exceeded 160,000 ETH, and the progress exceeded 30%.

At around 2:00 on November 23, the balance of the Ethereum 2.0 deposit contract exceeded 260,000 ETH, and the progress exceeded 50%.

At around 8:00 on November 24, the balance of the Ethereum 2.0 deposit contract exceeded 400,000 ETH, and the progress exceeded 76%.

At around 9:30 on November 24, the balance of the Ethereum 2.0 deposit contract exceeded 500,000 ETH, and the progress exceeded 95.4%.

At around 10:25 on November 25, the balance of the Ethereum 2.0 deposit contract reached the minimum startup threshold, with a progress of 100%.

At the same time, due to the positive impact of the accelerated mortgage progress, the price of ETH has continued to rise in recent days, rising by more than $150 since November 20, and officially broke through the $600 mark on November 22, setting a new annual high for several consecutive days and a new high since June 2018. As of press time, ETH was quoted at $616.5, with a daily increase of more than 10%.

At the same time, the cryptocurrency market has shown an overall upward trend in recent days. Mainstream currencies have risen one after another, and BTC is approaching its historical high. A scene of a reappearance of the 2017 bull market is emerging.